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Sergio Marchionne talks Fiat and European recovery at the Paris motor show

September 27, 2012

Sergio Marchionne was long on candor when we spoke to him on the floor of the Paris motor show.

Chrysler and Fiat CEO Sergio Marchionne voiced optimism for an economic recovery in Europe and around the world Thursday morning on the floor of the Paris motor show, though he was measured in his outlook.

"I think we're scraping the bottom of the barrel," he said. "The problem is you never know when you're done scraping."

Speaking to the press in his trademark black sweater layered over a checkered shirt, Marchionne said negative news surrounding the economy has compounded the crisis. He said European markets, grappling with job losses and austerity, need infusions of capital to rebound.

"As long as this doom and gloom persists, it's going to impact credit ratings," he said. "There's a point at which you need to close the book and move forward."

Marchionne also affirmed support for the choppy economic conditions in Fiat's home market of Italy.

"You make (commitments) because you owe a lot to the place that you're from," he said, comparing loyalty to Italy to a decision Chrysler made to keep the Sterling Heights, Mich., factory open near Detroit.

The 2012 Paris motor show—or Mondial de l'Automobile, as it is officially known––will take place Sept. 27 through Oct. 14. It occurs every two years, alternating with the Frankfurt motor show in Germany. Paris is a showcase for the latest in design, but automakers will also be showing off their latest concept cars, green cars and supercars.